As an experienced Buffalo Divorce Attorney, I am often asked about equitable distribution and how it is handled.
- The concept of equitable distribution, which doesn’t necessarily mean 50/50. It means equitable, or fair.
- Division of property can be decided by the parties themselves if they can agree on what they believe is fair; otherwise, the court will decide for them.
- Equitable distribution applies to both property and debts. It includes the house, cars, bank accounts, pensions, retirement accounts – and debt.
- The court applies several number of factors, such as the parties’ income and the financial circumstances that existed during the marriage.
Are you worried how your assets will be distributed with equitable distribution Contact Buffalo Divorce Attorney Michael Ranzenhofer for guidance.